August brings good real estate news
There were seven more home sales in Wilton last month compared to August 2017, according to a market report supplied by John DiCenzo of Halstead Real Estate. Twenty-nine sales were closed in August compared to 22 for the same month in 2017, an increase of 31.8%.
Despite that uptick, home sales for the year still lag 2017, 143 to 163, a decrease of 12.3%.
Prices, however, were also up. The median closing price for the first eight months of 2018 was $822,500, compared to $765,000 for the same period last year, an increase of 7.5% The average closing price was also up. At $895,874 that is 5.2% higher than last year’s $851,883.
The greatest number of houses — 39 — was sold in the $500,000 to $700,000 range. That was also last year’s sweet spot when 43 houses were sold.
Thirty-three homes sold between $1 million and $2 million, while 25 homes were sold in the $800,000 to $900,000 bracket.
As of Aug. 31, there were 228 houses on the market, compared to 218 last year.
Condo closings were up for the year, with 22 sold, compared to 20 in the first eight months of 2017. The average sale price so far this year is $416,886, compared to $356,295 last year, an increase of 17%.
There were 16 condos on the market as of Aug. 31, compared to 12 this time last year.
House and condo sales so far this month have amounted to $137,281,525, down six percent from $145,982,859 last year.
Area towns also experiencing a decrease of home sales in the first eight months include:
- Darien — -15.1%.
- Fairfield — -2.8%.
- New Canaan — -10.9%.
- Redding — -11%.
- Ridgefield — -13.1%.
- Weston — -4.2%.
- Westport — -1%.
Easton (-9.2%), New Canaan (-4.5%), Stamford (-1.7%), Weston (-13%), and Westport (-6.9%) experienced decreases in the median closing price.